Compressor Oil Market To Reach USD 14.74 Billion By 2026
Market Summary
Market Size – USD 10.02 billion in 2018, Market Growth CAGR of 4.9%, Market Trends – Increasing demand for bio-based products. The global compressor oil market is expected to reach USD 14.74 Billion by 2026, according to a new report by Reports and Data. Compressor Oil is a kind of lubricant that provides a long service life in most compressor applications. The thermal stability and oxidation resistance of this oil aids in maintaining cleaner compressors, thus permitting more extended running periods between scheduled maintenance and oil changes.
Market Summary Our Approach The increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand in the forecast period. The rapid growth of industrialization and positive economic trends across the globe, especially in the Asia Pacific region will escalate the manufacturing activities in the upcoming years. Currently, China leads the global manufacturing output owing to supportive government policies, foreign investments and easy availability of cheap labor. Urbanization, demographic shifts, growing consumer aspirations accompanied with high standards of living are boosting the growth of residential and commercial buildings sectors. Regional governments worldwide are investing massive amounts for the development of infrastructure to improve social and economic welfare. Request for a sample of this research report @ https://www.reportsanddata.com/sample-enquiry-form/1771
Market Summary Our Approach Further key findings from the report suggest: •
By compressor type, positive displacement types held a substantial share of the market in 2018. In positive displacement type compressors, compression is done by trapping a refrigerant vapor into a sealed-off space and then reducing its volume. Positive displacement pump modifies the geometrical volume of fluid at different stages, regardless of intake temperature and pressure. As a result, the performance of a centrifugal pump is dependent on input and output characteristics.
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By base oil type, bio-based oil is forecasted to grow at the fastest growth rate in the forecast period owing to the superior performance offered by green lubricants. Biodegradable lubricants are found to provide better lubricity.
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The Asia Pacific region dominated the market in 2018 and is projected to grow at a rate of 5.3% in the forecast period. The dominance of the Asia Pacific region may be attributed to the rising demand for compressor oil from automotive, oil & gas, construction, and petrochemical industries. The industries in the region are found to expand their production facility and hence require enough manufacturing equipment to cater to the end-user demand, thereby increasing the market demand.
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Market Summary Our Approach
Key participants - Royal Dutch Shell PLC, ExxonMobil PLC, British Petroleum PLC, Chevron Corporation, BASF SE, Sasol Limited, Croda International PLC, The Dow Chemical Co., Total SA, and Sinopec Corp., among others. Compressor Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026) Positive Displacement Type • • •
Reciprocating Type Rotary Screw Type Others
Roto-Dynamic Type • •
Radial Flow Type Axial Flow Type
Market Summary Our Approach Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026) • • • • • •
Manufacturing Oil & Gas Automotive Construction Power Generation Others
Regional Outlook (Revenue in USD Million; 2016–2026) • • • •
North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, Colombia)
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